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Popular clothing retailer Banana Republic offers four credit card options to earn rewards when making purchases. We’ll cover the benefits and drawbacks of each, and discuss whether alternative cards are better for qualified applicants.
Shop at Banana Republic often? If so, you’re probably aware of the retailer’s focus on quality luxury clothing that brings together contemporary looks with a timeless appeal. However, does the clothing retailer bring its same attention-to-detail when offering its own version of retailer credit cards? The credit cards from Banana Republic include 4 different types issued by Synchrony Bank include:
- Banana Republic Credit Card
- Banana Republic Visa Card
- Banana Republic Luxe Credit Card
- Banana Republic Luxe Visa Card
In this article, we’ll cover each Banana Republic credit card in-depth, highlighting the benefits and drawbacks of each one, and comparing them to alternative credit cards that may be a better option for your wallet.
Table of Contents
Overview | Banana Republic Credit Cards
To apply for a Banana Republic credit card, begin by filling out an application in-store and online. While there are 4 varieties of Banana Republic credit cards to use, there is only 1 application to fill out. Based on your individual criteria and creditworthiness, you will be issued 2 standard credit cards, with the ability to earn “Luxe” status through using these cards and meeting the requirements (see below). These standard credit cards include the Banana Republic card and the Banana Republic Visa card.
Banana Republic & Banana Republic Visa Credit Cards
The Banana Republic Credit Card is the most basic Banana Republic Card offered to applicants. What sets this credit card apart from most store-branded credit cards is that it can be used not only in Banana Republic locations and BananaRepublic.com but also their associated store brands of the Gap Family brands and their respective websites, including:
- Banana Republic
- Banana Republic Factory
- Gap
- Gap Body
- babyGap
- Gap Kids
- Gap Maternity
- Gap Outlet
- Gap Factory Store
- Old Navy
- Old Navy Outlet
- Athleta
Benefits of the standard Banana Republic credit card include:
- Earn 5X points per dollar spent across Gap family brands
- 20% off first online purchase at BananaRepublic.com
- Double point shopping days
- Receipt-free returns
- Special events, promotions, and discounts
- A birthday gift for cardholders that have made at least one purchase with their Banana Republic card within the last 12 months
- Earn a one-time bonus of 500 points for both:
- connecting with EBILL by signing up for paperless statements via the online portal, and
- connecting with EMAIL by submitting a valid email address and account number,
As a step up from store-branded credit card, the Banana Republic Visa Card, enables cardholders to use their credit card anywhere Visa cards are accepted. In addition to the benefits of the standard credit card, cardholders of the Visa card enjoy:
- 1X points per dollar spent anywhere Visa is accepted
- Special Visa cardholder offers and promotions
- 3,000 bonus points for new Visa cardmembers (worth $30) on a qualifying purchase outside the Gap family of brands.
Banana Republic Luxe & Banana Republic Luxe Visa Credit Cards
Now that we’ve covered the two standard credit cards, Banana Republic offers 2 credit cards Banana Republic’s elite “Luxe” status credit cards for shoppers that meet certain requirements. These requirements include:
- Cardholders must already have a current Banana Republic Card or Banana Republic Visa Card in good standing.
- Earn 5,000 reward points within a calendar year (excluding bonus points and returns)
- Make the minimum payment by the due date after reaching the 5,000 points
Once these requirements are met, cardholders of the standard credit cards will be upgraded to Luxe status within 90-120 days after qualifying. It’s also important to note that Banana Republic Luxe status does not carry over each year. Instead, cardholders must re-qualify each calendar year to achieve their elite Luxe status–something to keep in mind for seasonal shoppers.
For the Banana Republic Luxe Card, cardholders earn the perks of their standard Banana Republic card (mentioned in the previous section), but also receive:
- Free 3-5 day shipping across Gap family brands (enter the code LUXE at checkout)
- Choose your own sale day
- 20% bonus points each quarter
- Unlimited complimentary basic alterations on Banana Republic merchandise
- A dedicated cardholder hotline for Luxe members
Even though this is an upgraded card, Banana Republic Luxe Card still can only be utilized at the Gap family of stores and all respective online websites.
On the other hand, the Banana Republic Luxe Visa credit card is the upgraded version of the Banana Republic Visa card, which offers the most rewards of all cards offered by Banana Republic. Because it is a Visa card, it can be used anywhere Visa is accepted.
In addition to all of the benefits stated above (combining the basic and Luxe status perks), the Banana Republic Luxe Visa also includes:
- 1X points per dollar spent anywhere Visa is accepted
- Special Visa cardholder offers and promotions
- 3,000 bonus points for new Visa cardmembers (worth $30) on a qualifying purchase outside the Gap family of brands.
Last, in addition to all of the perks mentioned above, Visa cardholders are entitled to even more benefits that come standard with all Visa credit cards:
- Zero fraud liability
- Chip and signature technology
- Cardholder inquiry service
- Lost/stolen card reporting
- Emergency card replacement and cash disbursement
- Auto rental collision damage waiver
- Roadside dispatch
Banana Republic Rewards Program
As the Banana Republic credit cards are part of the Gap family of brands, the basic earnings process is the same across all stores for purchases made in-store, online, or by phone. Rewards are issued to the member’s account at the end of each billing cycle and can be managed online.
Take note that while there’s no limit to the number of rewards points a member can earn, the maximum amount that will be awarded in any one billing cycle is $250. Additionally, any number of rewards points less than those required for the lowest reward denomination will be carried over to the next billing cycle.
It’s important to note that each reward that is issued to your account comes with an expiration date (typically within 24 months). Therefore, you must make your purchase before this date in order to apply your rewards. Also, bear in mind that rewards members are allowed to redeem up to 3 rewards in a single transaction if they are purchasing items in store, or 5 rewards in a single transaction for online and phone transactions.
What makes rewards earned from your Banana Republic credit card so useful is that cardholders can stack their rewards points on top of 1 other promotional offer. Similarly, rewards can be applied toward sale items at any store location.
There are a few limitations to using your rewards points, however:
- The residual cash amount owed on your purchase after redeeming the rewards certificates must be paid with your Banana Republic credit card (or any Gap Inc. credit card)
- The purchase amount must be greater than the reward amount. (ex. you cannot use $60 in rewards for a $50 purchase)
- Rewards cannot be gifted to another shopper.
| Banana Republic Credit Card | Banana Republic Visa Card | Banana Republic Luxe Credit Card | Banana Republic Luxe Visa Card | |
| Cash Back Benefits | Earn 5X points per dollar spent across Gap family brands 20% off first online purchase at BananaRepublic.com Double point shopping days Receipt-free returns Special events, promotions, and discounts A birthday gift for cardholders that have made at least one purchase with their Banana Republic card within the last 12 months | Earn 5X points per dollar spent across Gap family brands 1X points per dollar spent anywhere Visa is accepted Special Visa cardholder offers and promotions 3,000 bonus points for new Visa cardmembers (worth $30) on a qualifying purchase outside the Gap family of brands. 20% off first online purchase at BananaRepublic.com Double point shopping days Receipt-free returns Special events, promotions, and discounts A birthday gift for cardholders that have made at least one purchase with their Banana Republic card within the last 12 months | Earn 5X points per dollar spent across Gap family brands 20% off first online purchase at BananaRepublic.com Double point shopping days Receipt-free returns Special events, promotions, and discounts A birthday gift for cardholders that have made at least one purchase with their Banana Republic card within the last 12 months | Earn 5X points per dollar spent across Gap family brands 1X points per dollar spent anywhere Visa is accepted Special Visa cardholder offers and promotions 3,000 bonus points for new Visa cardmembers (worth $30) on a qualifying purchase outside the Gap family of brands. 20% off first online purchase at BananaRepublic.com Double point shopping days Receipt-free returns Special events, promotions, and discounts A birthday gift for cardholders that have made at least one purchase with their Banana Republic card within the last 12 months Choose your own sale day 20% bonus points each quarter |
| Annual Fee | $0 | $0 | $0 | $0 |
| Average FICO Score to Qualify | 650 and above | 700 and above | 650 and above | 700 and above |
The Drawbacks of Banana Republic Credit Cards
While the Banana Republic credit cards can earn some great rewards on qualifying purchases, there are a number of drawbacks to seriously consider:
- With a high APR, cardholders have to be very careful when making purchases that may be beyond their budget to avoid hefty interest charges. Therefore, paying off your statement in full and on time each month is important.
- The earning and spending limitations of the rewards program may be enough to seriously consider other card options:
- Rewards categories are limited for credit cards offered by Banana Republic, which excludes dining, gas, travel, and other types of purchases, where consumers spend a majority of their income)
- The basic non-Visa credit cards (Banana Republic & Banana Republic Luxe cards) can only be used at the Banana Republic and across the Gap family of stores, limiting earning potential.
Taking this information into account, you should know that other credit cards may be available for qualified applicants to earn more points and spend their rewards on wider categories of items.
How Banana Republic’s Credit Card Compare to Alternative Programs
Before applying for Banana Republic’s credit cards you should explore all-purpose cards that will offer more spending flexibility and favorable rewards programs. Three we recommend are:
Chase Freedom Unlimited
The cash back offer will allow you to earn 1.5% for each $1 spent on all purchases within the first 12 months of account opening. You can also earn $150 intro bonus if you spend $500 within the first three months of your account opening.
The Banana Republic cards do not offer introductory APR and they carry high APR in comparison to Chase Freedom Unlimited
The point redemption is easier with the Freedom Unlimited card as you can redeem points against gift cards or as statement credits or use it to shop on Amazon.com.When you use the points to shop at Amazon the value of 100 points equals $0.80 in redemption value.
Along with cash back benefits you receive protection for purchases up to 120 days and extended warranty for up to one year. The card also protects against fraudulent transactions and offers zero liability protection.If you have an excellent credit then you could be eligible for this card.
Capital One® Savor® Cash Rewards Credit Card
Capital One® Savor® Cash Rewards Credit Card is a wholesome card.You will earn 4% cash back on dining and entertainment, 2% on grocery shopping and 1% on every other purchase.This card has a welcome bonus of $300 on account opening, you could qualify for it if you spend $3000 within the first three months of opening the account.
In addition to cash back on standard categories such as gas, grocery, Savor has a extra category with benefit such as 8% cash back on tickets for concerts or theatres if booking done through vivid seats,offer extends till May 31, 2020.
You can have the membership fees covered for Postmates Unlimited if the payment is made using the Savor card, this offer extends until December 2019.
This card has $0 annual fee for the first year and thereafter a fee of $95.
The Banana republic credit cards do charge a foreign transaction fee whereas Savor has no foreign transaction fee and the points collected on this card do not expire.
Capital One® Savor® Cash Rewards has all the benefits that an Elite Mastercard has to offer.
Capital One® QuicksilverOne Cash Rewards Credit Card
Each purchase using Capital One® QuicksilverOne Cash Rewards Credit Card will earn you a 1.5% cash back at Banana Republic brand stores and beyond.
The card is simple to use with no point expiry and no shopping category restriction.
Capital One® QuicksilverOne Cash Rewards Credit Card does come with one year extended warranty and 60 days purchase protection shopping benefits. An average to above-average credit score is a must to be considered for this card. The card can be used at all locations where MasterCard is accepted. Not only is this card good for shopping but you can also get a higher credit line by making the first six payments in a timely manner.
Travel and accident insurance, Auto Rental Insurance, Travel and emergency assistance services form part of the benefits for all the three cards mentioned above.Chase Freedom Unlimited does have additional benefit of Lost luggage reimbursement but Baggage Delay Insurance & Concierge services are the extra benefits that come along with the Savor card.
The Bottom Line
In conclusion, if you regularly fill your closet with apparel from Banana Republic and other stores under the Gap brand, then Banana Republic’s credit cards may be a good decision–especially if you qualify for Luxe elite status and the added perks that come with it. Of course, with a high APR and limited rewards program, qualified applicants may want to look elsewhere for better credit card alternatives available.
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